Promissory Note (Sample) - isacs

Promissory Note (Sample)Promissory Note (Sample Companion Piece to Enrollment Contract)On _____________, 19_____ for value received ______________________________,promises to pay The School, (city of Metropolis), a Minnesota non-for-profit corporation,the sum of $____________________. Pursuant to the terms and conditions of theschool’s enrollment contract.If default is made with respect to the payment plans as stated in the enrollment contract,then a 1.5% percent charge, per month (annual percent of 18%) shall be due.If payment of any portion of this note shall not be made when due, and any action isbrought to enforce collection, the maker agrees to pay the cost of collection and attorneysfees. Maker authorizes any Attorney at Law to appear in any court of record in the Stateof Minnesota, or any other State in the United States, upon default in the payment of anyinstallment due on the obligation, and waives the issuance of service of process, andconfesses judgment in favor of holder for the amount of the note, together with costs ofsuit and reasonable attorney fees, and releases all errors, and waives the right of appeal.Maker, endorser and guarantor of this note waive demand of payment, notice of protestand all exemptions.This note shall be governed by and construed in accordance with the laws of the State ofMinnesota.By: ________________________ Date: _________________MAKER(Notary seal)GUARANTEEFor value received, the undersigned ______________________ as primary obligors,hereby (jointly and severely and unconditionally) guarantees (s) the prompt payment ofprincipal and interest of the foregoing promissory note when and as due in accordancewith its terms, and hereby waive (s) demand, payment, denial, protest, or notice of anykind whatsoever, as well as any request that the holder exhaust any rights to take anyaction against the maker of the foregoing promissory note, and hereby consents to anyextension of time or renewal thereof.

_____________________Guarantor_____________________Guarantor------------------------------------------Author: Athas, Apostol, Kowal & Bridge, CHTD. Chicago, IL. Office: 312-578-0254.Spring,'99.